Tag Archive 'Social Security'

Mar 16 2009

Profile Image of edcohen

Don’t believe talk that Social Security is on verge of collapse, lobbyist says

Sunday, 3/15

Ed Cohen


“Repetition does not convert a lie into truth,” said Franklin Delano Roosevelt. That quote appeared in a video shown at a session today titled “Politics of Society of Social Security and Medicare Privatization.” The two speakers were strong opponents of privatization.

            Barbara Kennelly, president and CEO of the National Committee to Preserve Social Security and Medicare, said many conservatives have tried to make it appear that Social Security is on the verge of collapse, but “nothing could be further from the truth.”

            Kennelly, a former congresswoman who represented Hartford, Connecticut, for 17 years, said that in 2007 the Social Security program actually ran a surplus of $190 billion, and even if nothing changed the program will be able to meet its obligations until 2041. Even at that point, she said, Social Security would still be able to pay 78% of benefits.

            She said advocates of privatization are “mushing together” Social Security with Medicare and Medicaid, where a real crisis exists because health-care costs are out of control. She said that if the government did nothing but cut entitlement programs, health-care costs would still rise to 70 percent of the U.S. gross domestic product by 2082.

            “We don’t face an entitlement crisis, we face a health-care crisis,” she said. Social Security, she said.


No responses yet